Solana Mocks Starknet Over Market Cap Controversy: Outdated Data Questioned and Latest Developments Analyzed

Background: Solana Publicly Mocks Starknet’s Market Cap Structure

Image: https://x.com/solana/status/2011438153199223135

In mid-January 2026, the crypto community rapidly intensified its focus on an “official spat” between major blockchain platforms. Solana’s official X (formerly Twitter) account posted a message with a distinctly mocking tone, directly calling out Starknet for its extremely low on-chain activity despite a market capitalization exceeding $1 billion. The post used a stark contrast to suggest that Starknet’s valuation was significantly inflated.

The statement quickly spread across social media, sparking heated debate between Layer 1 and Layer 2 supporters. This was more than just a war of words; many market participants viewed it as evidence of intensifying competition within the public blockchain ecosystem.

Details of Solana’s Accusations and Data Disputes

Solana’s official post presented the following core arguments:

• Starknet reportedly has around 8 daily active users
• Processes approximately 10 daily transactions
• Maintains a circulating market cap of over $1 billion
• Holds a fully diluted valuation (FDV) of about $15 billion

Solana used this stark disparity to challenge the logic and reasonableness of Starknet’s current valuation.

However, as the discussion evolved, several industry experts pointed out that these figures did not reflect Starknet’s real-time on-chain status, but were instead taken from an outdated snapshot in 2024. At that time, Starknet was experiencing a post-airdrop lull, with user activity and transaction volume dropping sharply for a period. Therefore, these numbers do not accurately represent Starknet’s current ecosystem. As a result, some market commentators criticized Solana for selectively citing outdated data to create dramatic conflict and gain a narrative advantage.

Responses from Starknet Officials and Industry Participants

Image: https://x.com/Starknet/status/2011456290258907480

In response to Solana’s public mockery, Starknet’s official account did not directly refute the data. Instead, it opted for a more viral, lighthearted approach. Starknet posted an image featuring a gorilla emoji and jokingly asked, “Who told them these numbers?” Shortly afterward, StarkWare CEO Eli Ben-Sasson joined the conversation, humorously responding on social media:

“Solana might have 8 marketing interns, keeping the market cap up by tweeting every day.”

Some industry thought leaders also called for moderation, arguing that mutual attacks over on-chain data are largely emotional and offer little benefit to ecosystem development.

This exchange added an obvious entertainment element to the heated discussion, while highlighting the real pressure blockchain projects face in the battle for attention.

Comparing Actual Market Data and On-Chain Conditions

Objectively, the state of Starknet’s ecosystem described by Solana diverges significantly from current realities.

According to leading on-chain data platforms such as DeFiLlama:

• Starknet’s current TVL (Total Value Locked) has surpassed $300 million
• Daily active users number around 65,000
• On-chain transaction frequency and application interactions remain stable

These figures indicate that while Starknet’s ecosystem scale and activity still do not match top Layer 1s like Solana, it is far from being the “single-digit user” ghost network depicted.

Meanwhile, Starknet has recently advanced its ecosystem on several fronts, including:

• Significantly reducing gas costs
• Promoting staking and refining its tokenomics model
• Exploring BTCFi and cross-ecosystem expansion

These developments further weaken the rationale behind accusations of an “empty shell” valuation.

Analysis: Ecosystem Competition and Market Impact Behind the Incident

From a broader perspective, this incident reveals several key points:

1. Risk of Narrative-Driven On-Chain Data

In a social media-driven information landscape, outdated or selective data is easily used to construct emotional narratives. Market participants must pay close attention to data sources, timeframes, and context when interpreting on-chain metrics.

2. Public Blockchain Competition Shifts to Narrative Warfare

Solana and Starknet represent distinct technical paths—high-performance Layer 1 and Ethereum-based Layer 2, respectively. As market growth slows, competition has expanded from technology and development to narrative, attention, and brand strategy.

3. Emotional Volatility May Affect Short-Term Price Expectations

Controversial incidents like this often impact market sentiment and investor expectations in the short term. For example, STRK’s price and trading volume saw heightened attention during the event, though long-term trends will ultimately revert to fundamentals.

Conclusion

The public debate between Solana and Starknet over market capitalization and on-chain activity is more than a simple war of words—it is a classic example of information games in crypto ecosystem competition.

In a decentralized world, data should be the most persuasive language. Yet when data is taken out of its temporal context or selectively used, its conclusions require careful re-examination. For investors, the ability to rationally distinguish among facts, narratives, and emotions remains essential for understanding the market.